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TB MC Qu. 10-51 (Algo) The Professional Service Company ... The Professional Service Company expects...

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TB MC Qu. 10-51 (Algo) The Professional Service Company ... The Professional Service Company expects 70% of sales for cash and 30% on credit. The company collects 75% of its credit sales in the month following sale, 20% in the second month following sale, and 5% are not collected (that is, they are "bad debts"). Expected sales for June, July, and August are $67,000, $73,000, and $63,000, respectively. What are the company's expected total cash receipts in August? Multiple Choice O $64,545. $87,050. O O $119.900. o $68,150 O $20.445

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